DSE : PROVATIINS
Provati Insurance PLC. — Financial statements
Insurance Carriers · Bangladesh
Last price 57.9 BDT (At close: Oct 29, 2026) · Market cap 2.33B
Latest research: Provati Insurance financial analysis: combined ratio 91.4% and Tk 425m due from SBC (Oct 2026) · Provati Insurance: fire lost money two years running, 2024 underwriting margin hit a ten-year low, and H1 2026 premium rose 34%
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Financial statements
Income statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 833.36M | 776.32M | 863.44M | 889.86M | 903.30M | 811.83M |
| Total Interest & Dividend Income | 54.68M | 53.12M | 51.94M | 34.58M | 48.01M | 37.49M |
| Gain (Loss) on Sale of Investments | -7.10M | -7.10M | -12.08M | -12.46M | -22.62M | 67.99M |
| Other Revenue | 92.22M | 60.87M | 50.01M | 69.77M | 48.74M | 59.49M |
| Total Revenue | 973.16M | 883.21M | 953.31M | 981.75M | 977.42M | 976.81M |
| Policy Benefits | 376.60M | 302.70M | 322.92M | 308.67M | 317.74M | 324.34M |
| Policy Acquisition & Underwriting Costs | 155.66M | 155.66M | 171.02M | 180.50M | 173.98M | 157.95M |
| Amortization of Goodwill & Intangibles | 562.59K | 562.59K | 750.11K | 658.48K | 541.80K | 549.49K |
| Depreciation & Amortization | 23.89M | 23.89M | 22.22M | 22.73M | 18.76M | 13.53M |
| Selling, General & Administrative | 307.36M | 310.70M | 336.88M | 353.50M | 327.46M | 305.47M |
| Other Operating Expenses | -353.74K | -353.74K | -30.50K | -233.07K | ||
| Total Operating Expenses | 863.71M | 793.16M | 853.75M | 865.83M | 838.47M | 801.84M |
| Operating Income | 109.45M | 90.05M | 99.55M | 115.93M | 138.95M | 174.97M |
| Other Non Operating Income (Expenses) | -1.00 | -1.00 | 1.00 | |||
| EBT Excluding Unusual Items | 109.45M | 90.05M | 99.55M | 115.93M | 138.95M | 174.97M |
| Gain (Loss) on Sale of Assets | 1.21M | 642.47K | 1.11M | 1.11M | ||
| Pretax Income | 109.45M | 90.05M | 100.76M | 116.57M | 140.06M | 176.08M |
| Income Tax Expense | 25.92M | 20.13M | 21.38M | 27.94M | 38.39M | 26.76M |
| Net Income | 83.53M | 69.92M | 79.38M | 88.63M | 101.67M | 149.33M |
| Net Income to Common | 83.53M | 69.92M | 79.38M | 88.63M | 101.67M | 149.33M |
| Shares Outstanding (Basic) | 40.27M | 40.31M | 40.31M | 40.31M | 40.31M | 40.31M |
| Shares Outstanding (Diluted) | 40.27M | 40.31M | 40.31M | 40.31M | 40.31M | 40.31M |
| EPS (Basic) | 2.07 | 1.73 | 1.97 | 2.20 | 2.52 | 3.70 |
| EPS (Diluted) | 2.07 | 1.73 | 1.97 | 2.20 | 2.52 | 3.70 |
| Free Cash Flow | 53.62M | 70.88M | 5.24M | -9.49M | -8.45M | 214.95M |
| Free Cash Flow Per Share | 1.33 | 1.76 | 0.13 | -0.23 | -0.21 | 5.33 |
| Dividend Per Share | 1.20 | 1.00 | 1.25 | 1.20 | 0.86 | |
| Operating Margin | 11.25% | 10.20% | 10.44% | 11.81% | 14.22% | 17.91% |
| Profit Margin | 8.58% | 7.92% | 8.33% | 9.03% | 10.40% | 15.29% |
| Free Cash Flow Margin | 5.51% | 8.03% | 0.55% | -0.97% | -0.86% | 22.00% |
| EBITDA | 134.18M | 113.94M | 121.77M | 138.65M | 157.71M | 188.50M |
| EBITDA Margin | 13.79% | 12.90% | 12.77% | 14.12% | 16.13% | 19.30% |
| D&A For EBITDA | 24.73M | 23.89M | 22.22M | 22.73M | 18.76M | 13.53M |
| EBIT | 109.45M | 90.05M | 99.55M | 115.93M | 138.95M | 174.97M |
| EBIT Margin | 11.25% | 10.20% | 10.44% | 11.81% | 14.22% | 17.91% |
| Effective Tax Rate | 23.68% | 22.35% | 21.22% | 23.97% | 27.41% | 15.20% |
Balance sheet
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Equity & Preferred Securities | 60.69M | 61.91M | 75.28M | 134.13M | 149.91M | |
| Other Investments | 652.50M | 476.99M | 556.35M | 616.48M | 631.05M | |
| Total Investments | 652.50M | 537.68M | 618.26M | 691.76M | 765.18M | 149.91M |
| Cash & Equivalents | 186.25M | 211.15M | 144.07M | 168.20M | 124.42M | 767.54M |
| Reinsurance Recoverable | 560.13M | 507.22M | 426.18M | 286.68M | 157.75M | 25.77M |
| Other Receivables | 117.76M | 23.17M | 24.20M | 25.79M | 33.83M | 26.76M |
| Property, Plant & Equipment | 303.23M | 310.84M | 331.48M | 232.21M | 220.85M | 186.27M |
| Other Intangible Assets | 1.69M | 2.25M | 2.63M | 2.17M | 1.65M | |
| Other Current Assets | 111.34M | 142.21M | 119.53M | 65.64M | 56.20M | 21.87M |
| Other Long-Term Assets | 127.77M | 128.28M | 242.46M | 243.60M | 213.39M | |
| Total Assets | 1.93B | 1.86B | 1.79B | 1.72B | 1.60B | 1.39B |
| Accrued Expenses | 26.63M | 20.47M | 15.93M | 15.82M | 14.00M | |
| Insurance & Annuity Liabilities | 319.63M | 318.95M | 351.25M | 360.26M | 365.30M | 329.41M |
| Unpaid Claims | 426.24M | 402.90M | 320.56M | 236.34M | 166.06M | 111.01M |
| Unearned Premiums | 46.46M | 46.52M | 48.50M | 61.78M | 65.03M | 63.69M |
| Short-Term Debt | 32.86M | 33.11M | 75.31M | 122.07M | 80.18M | 56.40M |
| Current Income Taxes Payable | 123.07M | 97.60M | 68.08M | 68.56M | 34.44M | |
| Long-Term Deferred Tax Liabilities | 61.04K | 1.66M | 1.41M | |||
| Other Current Liabilities | 3.15M | 5.63M | 5.24M | 2.80M | 2.04M | |
| Other Long-Term Liabilities | -1.00 | -1.00 | 1.79M | 1.46M | 2.97M | |
| Total Liabilities | 981.30M | 956.87M | 918.99M | 869.11M | 770.36M | 616.82M |
| Common Stock | 403.12M | 403.12M | 403.12M | 403.12M | 403.12M | 347.52M |
| Retained Earnings | 544.28M | 499.24M | 469.63M | 440.64M | 402.24M | 416.71M |
| Comprehensive Income & Other | 2.50M | 2.50M | 2.50M | 2.50M | 28.28M | 12.11M |
| Shareholders' Equity | 949.90M | 904.86M | 875.25M | 846.27M | 833.64M | 776.33M |
| Total Liabilities & Equity | 1.93B | 1.86B | 1.79B | 1.72B | 1.60B | 1.39B |
| Filing Date Shares Outstanding | 40.31M | 40.31M | 40.31M | 40.31M | 40.31M | 40.31M |
| Total Common Shares Outstanding | 40.31M | 40.31M | 40.31M | 40.31M | 40.31M | 40.31M |
| Total Debt | 32.86M | 33.11M | 75.31M | 122.07M | 80.18M | 56.40M |
| Net Cash (Debt) | 153.39M | 178.04M | 68.75M | 46.14M | 44.24M | 711.14M |
| Net Cash Per Share | 3.81 | 4.42 | 1.71 | 1.14 | 1.10 | 17.64 |
| Book Value Per Share | 23.56 | 22.45 | 21.71 | 20.99 | 20.68 | 19.26 |
| Tangible Book Value | 949.90M | 903.18M | 873.00M | 843.63M | 831.47M | 774.68M |
| Tangible Book Value Per Share | 23.56 | 22.40 | 21.66 | 20.93 | 20.63 | 19.22 |
| Land | 98.70M | 98.70M | 78.70M | 78.70M | 78.70M | |
| Buildings | 115.43M | 115.43M | 20.40M | 20.40M | 20.40M | |
| Machinery | 233.64M | 231.01M | 228.73M | 205.69M | 172.35M |
Cash flow statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 83.53M | 69.92M | 79.38M | 88.63M | 101.67M | 149.33M |
| Depreciation & Amortization | 23.89M | 23.89M | 22.22M | 22.73M | 18.76M | 13.53M |
| Reinsurance Recoverable | -53.41M | -53.41M | -139.50M | -128.93M | -131.99M | 38.43M |
| Change in Unearned Revenue | -1.98M | -1.98M | -13.28M | -3.26M | 1.35M | 1.79M |
| Change in Deferred Taxes | -4.96K | -4.96K | -5.34K | -1.60M | 244.75K | |
| Change in Insurance Reserves / Liabilities | 47.87M | 47.87M | 73.10M | 65.38M | 90.95M | 78.79M |
| Change in Other Net Operating Assets | -10.72M | -10.72M | -2.19M | -2.50M | -15.76M | -35.02M |
| Other Operating Activities | -40.94M | -1.43M | -14.49M | -15.24M | 11.02M | -1.11M |
| Operating Cash Flow | 48.25M | 74.14M | 5.24M | 25.21M | 76.23M | 245.73M |
| Capital Expenditures | 5.38M | -3.25M | -34.70M | -84.68M | -30.78M | |
| Sale of Property, Plant & Equipment | 8.08M | 606.03K | 1.69M | 172.30K | ||
| Purchase / Sale of Intangible Assets | 681.84K | 562.59K | 383.56K | -466.72K | -1.06M | -998.51K |
| Investment in Securities | 12.35M | 78.15M | 59.30M | 59.62M | -623.78M | -175.12M |
| Other Investing Activities | -1.00 | -1.00 | 1.00 | |||
| Investing Cash Flow | 18.41M | 75.46M | 67.76M | 25.06M | -707.83M | -206.73M |
| Short-Term Debt Issued | 41.88M | 23.79M | 56.18M | |||
| Total Debt Issued | 41.88M | 23.79M | 56.18M | |||
| Total Debt Repaid | -344.55K | -42.20M | -46.75M | |||
| Net Debt Issued (Repaid) | -344.55K | -42.20M | -46.75M | 41.88M | 23.79M | 56.18M |
| Common Dividends Paid | -40.31M | -40.31M | -50.39M | -48.37M | -35.30M | |
| Financing Cash Flow | -40.66M | -82.51M | -97.14M | -6.49M | -11.52M | 56.18M |
| Miscellaneous Cash Flow Adjustments | 2.00 | 1.00 | -1.00 | |||
| Net Cash Flow | 25.99M | 67.09M | -24.14M | 43.78M | -643.11M | 95.19M |
| Free Cash Flow | 53.62M | 70.88M | 5.24M | -9.49M | -8.45M | 214.95M |
| Free Cash Flow Margin | 5.51% | 8.03% | 0.55% | -0.97% | -0.86% | 22.00% |
| Free Cash Flow Per Share | 1.33 | 1.76 | 0.13 | -0.23 | -0.21 | 5.33 |
| Levered Free Cash Flow | 60.97M | 168.72M | 66.24M | 11.69M | -690.20M | 182.59M |
| Unlevered Free Cash Flow | 60.97M | 168.72M | 66.24M | 11.69M | -690.20M | 182.59M |
| Cash Income Tax Paid | 16.86M | 21.56M | 35.87M | 43.18M | 27.38M | 27.86M |
| Change in Working Capital | -18.24M | -18.24M | -81.87M | -70.90M | -55.21M | 83.98M |
Ratios
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.33B | 1.14B | 1.50B | 2.37B | 2.37B | 4.25B |
| Enterprise Value | 2.18B | 1.08B | 1.44B | 1.64B | 1.68B | 3.48B |
| PE Ratio | 27.91 | 16.32 | 18.94 | 26.79 | 23.36 | 28.46 |
| PS Ratio | 2.40 | 1.29 | 1.58 | 2.42 | 2.43 | 4.35 |
| PB Ratio | 2.46 | 1.26 | 1.72 | 2.81 | 2.85 | 5.47 |
| P/FCF Ratio | 43.53 | 16.09 | 286.88 | 19.77 | ||
| P/OCF Ratio | 48.38 | 15.39 | 286.88 | 94.18 | 31.15 | 17.30 |
| EV/Sales Ratio | 2.24 | 1.22 | 1.51 | 1.67 | 1.72 | 3.57 |
| EV/EBITDA Ratio | 16.25 | 9.46 | 11.81 | 11.85 | 10.68 | 18.49 |
| EV/EBIT Ratio | 19.92 | 11.97 | 14.45 | 14.17 | 12.12 | 19.92 |
| EV/FCF Ratio | 40.67 | 15.20 | 274.40 | 16.21 | ||
| Debt / Equity Ratio | 0.04 | 0.04 | 0.09 | 0.14 | 0.10 | 0.07 |
| Debt / EBITDA Ratio | 0.24 | 0.29 | 0.62 | 0.88 | 0.51 | 0.30 |
| Debt / FCF Ratio | 0.61 | 0.47 | 14.37 | 0.26 | ||
| Net Debt / Equity Ratio | -0.16 | -0.20 | -0.08 | -0.06 | -0.05 | -0.92 |
| Net Debt / EBITDA Ratio | -1.14 | -1.56 | -0.56 | -0.33 | -0.28 | -3.77 |
| Net Debt / FCF Ratio | -2.86 | -2.51 | -13.12 | 4.86 | 5.24 | -3.31 |
| Quick Ratio | 0.95 | 1.08 | 1.23 | 1.57 | 1.92 | 2.78 |
| Current Ratio | 1.66 | 2.11 | 2.22 | 2.29 | 2.52 | 3.01 |
| Asset Turnover | 0.53 | 0.48 | 0.54 | 0.59 | 0.65 | 0.77 |
| Return on Equity (ROE) | 9.00% | 7.86% | 9.22% | 10.55% | 12.63% | 21.28% |
| Return on Assets (ROA) | 3.73% | 3.08% | 3.55% | 4.37% | 5.79% | 8.63% |
| Return on Invested Capital (ROIC) | 8.61% | 7.41% | 8.17% | 9.37% | 11.55% | 20.33% |
| Earnings Yield | 3.58% | 6.13% | 5.28% | 3.73% | 4.28% | 3.51% |
| FCF Yield | 2.30% | 6.21% | 0.35% | -0.40% | -0.36% | 5.06% |
| Dividend Yield | 2.07% | 4.24% | 2.68% | 2.12% | 2.04% | 0.82% |
| Payout Ratio | 48.26% | 57.65% | 63.48% | 54.58% | 34.73% | |
| Buyback Yield / Dilution | 0.10% | 0.00% | ||||
| Total Shareholder Return | 2.17% | 4.24% | 2.68% | 2.12% | 2.04% | 0.82% |